Storehouse Daily Bread Ministry

Nonprofit profile at a glance

EIN
061802239
IRS 990 coverage
2013–2025
Forms available
Form 990 2025, Form 990-EZ 2018, Form 990-N 2009
Location
Lenoir, NC, USA
Phone
8286126802
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Food Programs

Reported finances

Revenue
$273,685
Expenses
$251,712
Assets
$504,810
Liabilities
$210,169

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • RICK BOWMAN (PRESIDENT)

Highest reported compensation

  • CECILIA BOWMAN (EXECUTIVE DI): $35,077 total reported compensation
  • ELAINE BROOKSHIRE (SECRETARY/TR): $3,049 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide nutritious meals at no cost to those who desire or need them regardless of race, creed, gender, or financial need.

What it reported doing in 2025

Thrift stores operated two thrift stores in caldwell county with all volunteer labor to collect and resell used merchandise from the community. The thrift stores collected and resold 248,563 of used merchandise in 2025. Sales of 319,298 were generated in 2025 by the thrift stores to fund the majority of the organization's operations and purchase food for its food pantry.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 83% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 90
  • Accountability: 41
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.2%; rating input score 61
  • Program expense ratio: 66.1%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 62.5%; rating input score 62; 20th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 2.01; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 15.1%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 16.8% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 61.2% of revenue deployed · 66.1% of spending went to programs
  • Governance: 5 of 8 board members independent · 1 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $166K in reported program spending
  • Leadership: top reported pay $35K · 8 people listed
  • Consistency: 26 of 28 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Review — Sustainability: Operating margin scored 53/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule M noncash within contributions did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.